Firan Technology Group Stock Earnings Reports

FTG reported a solid Q3 2025 driven by bookings, backlog growth and the acquisition of FLYHT. Bookings were $51.5M with a book-to-bill of 1.08 and backlog grew to $137M (up 12% year-over-year), with ~80% expected to convert within 12 months. Revenue was $47.7M (+11% YoY), aided by FLYHT; adjusted EBITDA was $7.7M (16.1% of sales) and adjusted net earnings rose to $2.9M. The company reduced net debt to $9.5M (0.3x trailing 12-month adjusted EBITDA) and generated strong operating cash flow less lease payments ($5.5M in the quarter). Strategic priorities include integrating FLYHT (focus on three key products: SATCOM radio, WVSS-II, and Edge+ WQAR), expanding approvals/STCs (A320 and 737 jurisdictions), in-sourcing manufacturing where appropriate, mitigating U.S. tariff risk through geographic diversification (new India aerospace site in Hyderabad, repatriation of cash from China, shift of some non-U.S. customer work to non-U.S. sites), and targeted leadership and operational upgrades across facilities. Near term challenges: some aerospace revenue and margin pressure from intercompany transitions (notably the C919 work moving to Tianjin) and qualification/production ramp timing that could push more pronounced growth into 2026. Demand across end markets is described as generally strong (Airbus and Boeing production ramps, defense spending increases), with noted lumpiness in simulator-related markets. Management continues to pursue profitable, cash-forward growth and remains opportunistic on M&A while prioritizing FLYHT integration.